Bank Guarantee

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Trust bank Guarantee is given to customers engaged in execution of contracts and/tenders with government, international organizations and private institutions. These may be Performance Guarantees, Bid security/bid bonds, or Advance Payment Guarantees.

Benefits

  • Customer gains trust from their business partners to execute contracts/ bids.
  • Affordable interest rates
  • Flexible repayment plans
  • Multiple disbursements offered
  • Support and advisory services to customers.
  • Relieves customer from upfront commitment of capital
  • Eases customer’s business transactions through provision of ­financial solutions.

Requirements

BID SECURITY/ BOND/GUARANTEE

  • Must be an FTB Customer
  • Invitation to Bid/Bid notice
  • Proof of the Contract
  • Documents to show that the client will bid for the contract.
  • Cash/ collateral equivalent to the guarantee amount (N.B: Collateralized bonds to be handled on a case by case basis)
  • Identification Documents of Directors e.g National ID / Passport
  • Memorandum and Articles of Association
  • Certificate of Registration
  • Company Profile
  • Borrowing resolution for the unsecured limit
  • Curriculum Vitae of Proprietors/ Partners/ Directors
  • Financial card required
  • Details of previous contracts completed
  • Statement of Bank Accounts for last 12 months

ADVANCE PAYMENT GUARANTEES

  • Must be an FTB customer
  • Evidence of Bid and award of contract
  • Proof of the contract (Copy of the contract)
  • Collateral equivalent to the guarantee amount (N.B: Collateralized bonds to be handled on a case by case basis)
  • Application letter from the applicant
  • Identification Documents of Directors
  • Memorandum and Articles of Association
  • Certificate of Registration
  • Company Profile
  • Borrowing resolution for the unsecured limit
  • Curriculum Vitae of Proprietors/ Partners/ Directors
  • Financial card required
  • Details of previous contracts completed
  • Statement of Bank accounts for last 12 months

PERFORMANCE GUARANTEE

All the above and:

  • Evidence of previous similar contracts
  • Well demonstrated capacity to execute the contract